Century Casinos Summarizes Improvements

    COLORADO SPRINGS, Colo., Oct. 17 /CNW/ -- Century Casinos, Inc. (Nasdaq:  
CNTY; Vienna Stock Exchange:).  In response to questions regarding recent
stock performance, Co CEOs Erwin Haitzmann and Peter Hoetzinger stated, "All
indicators tell us that we are making progress at both our new and established
properties. In our opinion, the stock is undervalued based on a variety of
indicators. Century Casinos continues to have a strong balance sheet,
outperforming its peers with a debt to equity ratio of 0.63 as of June 30,
2007 compared to an industry average of 2.63, and a price to  cash flow of
9.85 for the 12 months ended June 30, 2007 compared to an industry average of
    In the past year, the company opened two new casinos and constructed a
new facility for an acquired operation. In addition, we acquired a one-third
stake in Casinos Poland, Ltd., the owner and operator of seven casinos and one
slot arcade in Poland, which we believe is the market leader in the Polish
casino industry.
    In Q2-2007, the company's established casino resorts in Cripple Creek,
CO, and Caledon, South Africa, both reported revenue growth when compared to
the same prior year period.  Likewise, we believe our recently opened
properties in Central City, CO, Edmonton, Canada, and Newcastle, South Africa,
are progressing well.  Adjusted EBITDA (which we define as earnings before
interest, income taxes, depreciation, amortization and minority interest), one
measure by which the company evaluates the success of its ventures, has been
very strong in 2007 increasing by 113% in the first six months of the current
year over the same prior year period.

    Additional recent actions or developments are:
    -- Womacks Casino in Cripple Creek is undergoing an approximately $2
        million renovation through which we intend to raise the standard for
        facilities in Cripple Creek and garner further market share.

    -- The Alberta Gaming Commission recently added 56 slot machines at our
        property in Edmonton, a sign that the gaming market in Edmonton is
        expected to grow.

    -- The hotels on our two South African properties in Caledon and Newcastle
        were awarded superior 4-star ratings, which we believe will attract
        additional customers to these properties
    The company plans to release Q3 results on Friday November 9th.
Historically, the company does not give earnings guidance.
    The company is actively managing its growth and always targeting
improvements that are intended to increase shareholder value.  The company
believes that its diversification is one of its strengths because operating on
multiple continents effectively distributes risk and gives the company and its
investors opportunities in emerging international markets.
    About Century Casinos, Inc:
    Century Casinos, Inc. is an international casino entertainment company
that owns and operates the Womacks Casino and Hotel in Cripple Creek,
Colorado, the Century Casino & Hotel in Edmonton, Alberta, Canada; operates
the casinos aboard the Silver Cloud, The World of ResidenSea, and the vessels
of Oceania Cruises; owns a 65% interest in, and has a management contract for,
Century Casino & Hotel in Central City, Colorado. Through its subsidiary
Century Casinos Africa (Pty) Limited, it owns and operates The Caledon Hotel,
Spa & Casino near Cape Town, South Africa, as well as 60% of, and provides
technical casino services to, Century Casino Newcastle, in Newcastle, South
Africa. Furthermore, the Company's Austrian subsidiary, Century Casinos Europe
GmbH, owns and operates the Century Casino Millennium in the Marriott Hotel in
Prague, Czech Republic and holds a 33.3% ownership interest in Casinos Poland
Ltd, the owner and operator of seven casinos and one slot arcade in Poland.
The Company continues to pursue other international projects in various stages
of development.
    For more information about Century Casinos, visit our new website at
www.centurycasinos.com. Century Casinos' common stock trades on The NASDAQ
Capital Market(R) and the Vienna Stock Exchange under the symbol CNTY.
    This release may contain "forward-looking statements" within the meaning
of the Private Securities Litigation Reform Act of 1995. These statements are
based on the beliefs and assumptions of the management of Century Casinos
based on information currently available to management. Such forward-looking
statements include, among others, statements regarding the value of our stock,
progress at new and established properties, revenue growth, gaming market
growth, the impact of improvements to our properties and our ability to manage
growth and improve shareholder value through diversification. Such forward-
looking statements are subject to risks, uncertainties and other factors that
could cause actual results to differ materially from future results expressed
or implied by such forward-looking statements. Important factors that could
cause actual results to differ materially from the forward-looking statements
include, among others, the risks described in the section entitled "Risk
Factors" under Item 1A in our Annual Report on Form 10-K filed on March 16,
2007. Century Casinos disclaims any obligation to revise or update any
forward-looking statement that may be made from time to time by it or on its

For further information:

For further information: Peter Hoetzinger, Co CEO & President, 
+1-719-689-5813, +43 664 355 3935, peter.hoetzinger@cnty.com, or Larry 
Hannappel, Senior Vice President, +1-719-229-6448, larry.hannappel@cnty.com, 
both of Century Casinos, Inc. Web Site: http://www.centurycasinos.com

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